Today, T-Mobile announced an agreement with Verizon Wireless and is submitting applications to the FCC for the purchase and exchange of Advanced Wireless Services (AWS) spectrum licenses in 218 U.S. markets. This has been long time coming and is a big win for T-Mobile USA as it gains:

. The transaction will improve T-Mobile's spectrum position in 15 of the top 25 markets in the U.S.. T-Mobile will gain spectrum covering 60 million people - notably in Philadelphia, Washington D.C., Detroit, Minneapolis, Seattle, Cleveland, Columbus, Milwaukee, Charlotte, Raleigh-Durham, Greensboro, Memphis, and Rochester.. Following regulatory approval, this spectrum can be deployed to enhance T-Mobile's 4G services, including the company's network modernization and the rollout of LTE services next year.

T-Mobile will gain spectrum covering 60 million people -- notably in Philadelphia; Washington, D.C.; Detroit; Minneapolis; Seattle; Cleveland; Columbus, Ohio; Milwaukee; Charlotte, N.C.; Raleigh-Durham, N.C.; Greensboro, N.C.; Memphis, Tenn.; and Rochester, N.Y. -- in exchange for spectrum covering 22 million people and certain cash consideration. The agreement also includes exchanges in a number of markets in which the companies will swap licenses to create more contiguous blocks of spectrum and re-align spectrum in adjacent markets. These intra-market swaps will enhance T‑Mobile's network performance and data throughput in key locations. This agreement is in addition to T-Mobile's previously announced $4 billion 4G network evolution plan, which includes modernization of 37,000 cell sites, launching 4G HSPA+ services in the 1900 MHz band and deployment of LTE in 2013.